Europe Day Ahead: EU leaders step up shuttle diplomacy

Tuesday, September 04, 2012 - 02:11

Sept. 4 - As the summer lull fades and the focus turns to the ECB's crucial policy meeting on Thursday, the German Chancellor Angela Merkel is spearheading the drive for a breakthrough in the debt crisis.

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Call it the drug effect Spanish and Italian borrowing cost -- on hopes the ECB will turn on the stimulus tops on Thursday. Italian and -- two year bond yields at levels not seen since April. Equity investors -- a bit more cautious some traders believe the market is vulnerable to sell off to try to disappoints. Tomorrow we have final eurozone services. Of the -- and retail sales for July is also on the cards some economists say Mario Draghi could use the ECB's meeting on Thursday as a chance to -- -- On Germany. One -- drive in my class is that he will announce a and -- subject to lose the German Constitutional Court next week. Rectifying the -- just nation may be ashamed that -- buyout fund. The victory would you be doing his hand boring into the into the German school. The the issue and -- the U -- IE Ian. -- -- -- -- -- -- -- European council president Herman -- don't play continues his shuttle diplomacy and on the capitals of Europe. He'll be in hottest tomorrow looking to get support for plans to give the ECB sweeping powers over banking supervision. A step opposed by German finance minister Wolfgang chilling look. Expect some better news on China's economy with HSBC's services PMI expected to show healthy growth. D'etat and later in the week had suggested a sharp contraction in manufacturing. Not slowdown in China's output likely to be deflated and Australia's GDP growth probably -- in the second quotes up to not point 7%. They -- some may prompt a rethink on interest rates which that is out buying health unchanged on Tuesday. Not so fun there's more on Reuters dot com on the inside the platform and to join us to model foot -- Reuters newsmaker a special but much infinitely. -- -- k.'s new chief financial regulates that. I'm -- gave up. -- -- --

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